₦airaland Forum

Goldbw122:
The boss I greet you, carry on.

Lol.
No shaking!

Omobola121:
Crypto is very manipulative and very few people control the market (The feds, The Money bags people) Just before CPI result was released, some smart money bag with first hand information already knew the outcome, they knew the price will fall. So they shut the market down.

Technical Analysis is for Retails Traders not for Institutional traders.

To be honest with you, I don't know about institutional traders, but what I know is that TA is a prerequisite for traders.

About what you explained...
Well, any serious minded trader who takes FA seriously, ought to know the CPI would be higher than the previous one which was at 8.6%
But it was expected to increase to 8.8% or thereabouts.
However, it shocked everyone and increased to 9.1%, highest in 41 years, which caused the markets to crash almost immediately the results were out.

Traders are usually speculative.
So what most advanced traders did before the results were out, was to short the expected negative results since the beginning of the week, which we all experienced.

When the CPI numbers finally came out, the results were worse than expected, which sent the markets tumbling to new lows.

The new support at 18k weathered the storm, which prompted traders to buy low, and that is why BTC is on the up once again.

I expected all of these to play out...no surprises!
TA is primary, while FA secondary...in my opinion though!

Kingsteve:
BREAKING: U.S. inflation reached 9.1% in June, its highest rate in nearly 41 years.

After the release of that report, in seconds; BTC crashed to a lower low of 18.9k from the previous low of 19.2k

This new low is hovering around the previous key support of 18.6k

If this new support holds the onslaught, I expect short term buyers to buy the dip and exit at strong resistance areas.

Personally, as soon as I notice some strong buying pressure, I'd go long and grab what I can.

The following days will give us a clear indication where the market goes from this support.

Who still dey doubt TA?
Just like I expected, traders have swooped in to buy BTC and select altcoins on a discounted price after that drastic drop!


And yeah...I opened a long in Shiba.
Currently on 2.2% in profits.
BTC's reaction to lower resistance within the DI timeframe will determine if I close my position or hodl for more profits.

If today's high is broken, and previous higher supports holds without falling back, expect a momentum to build from here.

I'll be watching closely to know when to pull out, or hodl for more gains.

Image 1: Shiba
Image 2: BTC
Notice the long wick being left behind.
That's a good sign the support is doing its job!

BREAKING: U.S. inflation reached 9.1% in June, its highest rate in nearly 41 years.

After the release of that report, in seconds; BTC crashed to a lower low of 18.9k from the previous low of 19.2k

This new low is hovering around the previous key support of 18.6k

If this new support holds the onslaught, I expect short term buyers to buy the dip and exit at strong resistance areas.

Personally, as soon as I notice some strong buying pressure, I'd go long and grab what I can.

The following days will give us a clear indication where the market goes from this support.

They usually say: buy the rumour, sell the news.
Are we about to see the opposite of that phrase in the markets?

In this case...short the rumour ( US CPI numbers, inflation data), long the news?

In another scenario, could BTC actually fall below yesterday's low/support at $19.2k when the news finally breaks?

If you're a daredevil kinda trader willing to take such risks by either longing or shorting in this current turbulent market, always bear in mind it's 50/50 for now in the short term.

It can either gather momentum from this price range or keep losing more support levels to the bears.
Take what you can and exit...that's the message!

Why do I still remain bullish in the midst of all these?
From the charts, since BTC hit ATL at $17k, those levels haven't been touched since, instead, higher lows/supports have formed from that price level.
From a D4 point of view, the support key price points are: 17.6k, 18.6k, and currently at 19.2k

Also notice the ascending trend line, confirming those key support areas, after wicks have been left behind.

Summary: TA tells me the bulls might weather the storm against all odds!

We shall see...

cmoney22222:
Nobody see this one now talk ooo. My future traders let appreciate this. Thanks again boss. This is certainly a million $ info. One can just hedge with this still Dey observe. Thanks again

Sure...

LadyD22:
Psychic
It happens to me as dreams

Yeah...some of my close friends call me: 'the mystic man'!

Events play out in my mind before they happen.
Not once, twice or thrice, but plenty!
Hmmmm....

Goldbw122:
Careful bro

Lol

ugo41babe:
Nice. Do you have any group where you share your calls?

No I don't

ugo41babe:
Would you mind sharing you calls on leverage tokens. Some of us could benefit from it

Any leveraged token ending with down, no matter the name, means the price will correlate with BTC price as it falls.

So as BTC is plummeting, wait for a support in any of the leveraged tokens and open a long position.

Exit when BTC hits any support.
The reverse will be to exit when the leveraged token hits a resistance.
In other words, its equivalent to shorting BTC


Image 1 xrpdown
Image 2 BTC

Siberia01:
kingsteve have you noticed, leverage tokens on Kucoin give more percentage than that of Binance

Very possible, but I haven't checked out the ones at Kucoin yet.

Omobola121:
The bull don go chop salah meat ooo

Na so!
I was very optimistic about the bulls holding on.
The $20.3k to $20.2k support held on almost all day, till it was finally broken, and that was when I opened a long on Xrpdown, one of the leveraged tokens to ride with the bears.

There's another support at $19.8k
Let's see how far it can hold off the onslaught.


Anyhow which way...we ride along!

The bulls must not allow the bears to reign supreme, at least for today's trading session.
The bulls need to maintain a higher support in preparation for the US CPI report coming out this week.

If BTC maintains a higher support, which will aid in taking price upwards, then the next wave of negative FA shouldn't take a full blown hit on the price of BTC.

In summary, the bulls must defend these new support areas at $20.2k/$20.3k and endeavor to regain lost grounds.

The bulls have fought well, and must not give up grounds thereby taking us back to square one.

Let's see how today's trading session pans out.

coolqayy:
Uncle xatoxi
Brother king Steve

Please how can I make 2$ daily on spot

Lol

As a trader, you should be talking about percentages, not monetary value.

XaToXi:
My brother whether bull or bear, I'm here to make money

That's it!
Bull or bear no suppose stop an active trader from making money.

XaToXi:
Will $20835 hold?

If the bears with the help of negative FA from the US, assists in turning the D4 green candle into a red one, then the possible supports from the charts are $20,260 and $19,810, assuming this current suport at $20,751 is tested and broken.

The bulls have fought a good battle to push price up this far, I hope they will be able to fight back without relinquishing lots of territories to the bears, regardless...

jyz200:
TA
FA
Are all spices
With my few years of trading future the most important skills you need is discipline trust me
To stick to ur plans no matter the outcome
Then you’re good to go

Spot on!
TA and FA without good discipline still won't function properly.
TA+FA+Discipline=A good trader!

Omobola121:
Futures come with greed. It is not about knowing TA or not. It takes lots of self discipline to trade futures successfuly without getting rekt.

And the peace of mind you will have on spot can't be the same on futures. I know someone that lost 2k$ on futures within minutes. Most times, future traders lost both profit and capital.

Imagine seeing a profit on a trade this morning then loosing it on another trade the next minutes.

Well said!
Even spot trading requires lots of discipline, let alone futures.
It's a no, no for me.

Omobola121:
No be me o na greed wipe you! Reason why i respect Kingsteve. The guy made it clear futures na closer way to village. Though, he knows TA but he doesn't do futures.


You have learnt but my mind still tells me you will try futures again and still use 50L just to recover your loss Sorry en

Lol, and he even shorted.
How can he be shorting when the bulls are rampaging?

You only short when the balls are exhausted and buying pressure dwindling.
Anyway, he will learn.
All na learning curve.

Omo, hope you good?

Goldbw122:
The boss, I greet your ministry oooo, nice work you are doing here..

Thanks!

Greetings!
BTC has finally posted a green monthly candle.
Now, that's a huge statement of intent!

Also, when you check the other timeframes from W2, W1, D4 and D1, you will see all green candlesticks.

What this simply implies, is that there are more willing buyers in the market, which inevitably adds to more buying pressure.

For BTC shorters, this may not be the best time to be shorting, as you may likely be swallowed by the bulls.

For medium to long term analysis and key price points: when and if BTC conquers and occupies all bearish territories into the $26k region, expect a fierce resistance at around $26,600 or thereabouts.

That price point around the resistance is very crucial for the recovery of BTC.
If broken and flipped to support, BTC's next target will be around the region of $31-$32k where it faces another stiff resistance.

BTC has a lot of resistance to break before we see a full blown recovery!

In the time being, I expect day traders to continue taking advantage of this bull rally, and keep taking profits at resistance levels, while opening new ones at support levels after the pullback.

Do I see BTC dipping back to $18k territory?
Now, that answer depends solely on FA.
If FA isn't kind to BTC, a drop to the $19k region is very possible, but from the charts, I think the bulls are ready to defend any onslaught from the bears, no matter how negative the FA

We shall see...

Below is a monthly BTC chart showing the green candle.
Disregard those numerous horizontal lines, as they simply act as guides to key price points in lower time frames.

Hmmm...
Interesting!

E be like say na the category of yellow crypto boys I fall into.
All I do is trade, trade and more trade!

renminbiyuan:
Base on Cycle Analysis; Technical Analysis; & Moving Average Analysis:
BTC is heading into its 1st 6month bearish cycle of the year 2022.
This 1st 6month bearish cycle is about to bottom, for the start of a 2nd bearish cycle, or it's first bullish cycle of the year 2022.
The recent uptrend we are currently witnessing is just a corrective move; which indicates that the 1st 6month bearish cycle of BTC is about to bottom, for the start of a new bearish or bullish cycle of this year.

This is definitely not a good time to buy/long; if you must buy, do it with caution. This is also not a good moment to sell/short; if you must sell also do it with caution too.

I have close all positions; & I will be going on a brk. I will be back once a local bottom price pattern is formed on my 1D MA line; which signals the start of bullish cycle. Or when a second bearish cycle of the year starts.

This is for long term investors, definitely not for day traders!
Even in this present BTC price cycle, medium term investors would profit immensely.

What a pump!
So after yesterday's BTC pump which hit intraday high of $22,527.37, it was inevitable that the next move will be a retracement.

Looking at the charts, the potential supports are $21,199, $20,934, $20,741 and $20,260
All these depends on the magnitude of profit taking, shorting and key FA from the US later on today.

It is expected that some of you made the most of yesterday's pump...I did!

Spot traders do not have the luxury of shorting, but with leveraged tokens, spot traders can still short by opening long positions on tokens such as BTCdown, BNBDown, ETHdown and so on.

So, like I always preach on here, price fluctuations are your friend if you know how to...

What I did was open a long position on BNBdown, which works in tandem with BTC, especially when BTC price is falling.

For the fact BTC hit a resistance at $22,527, the natural thing was to short from that resistance, and this is exactly what I've done, so that I can take advantage of price fluctuations, no matter the direction.

I'll be paying close attention on those key support areas, to know when a reversal is about to form, so that I can close my long position on BNBdown.


#CryptoTrading101

R2bees2:
Yes numerous resistance, I think we are more bullish than bearish, anyone that knows how to trade ranges should be good. Draw, snipe, pluck.. You print either way it goes

Na so!

Siberia01:
Your TA might Tell you that!... But FA has a bigger say in this market nowadays

If FA is anything to go by presently, prices should still be on the decline.
Macroeconomics hasn't been so kind to BTC and the general stock market.

July 4th, the stock markets were closed, no major fundamentals, yet BTC still rallied.

My point is...for now, TA has a major say than the FA!
Traders are obeying and respecting key price points for entry and exits!

All protocols must be observed!

R2bees2:
I can't remember the last time we are this bullish.. We will ride till 22K then we go down again.. Long your longs with tight SL, trust me you are good. DYOR

That's wishful thinking ooo.
But fingers crossed, I hope it does.
Look at the chart below, and see the numerous resistance levels BTC has to break before reaching $22k

BTC has to post a strong long green candle at one go, to stand chances of hitting $22k soon.
In other words, it has to be seriously pumped!

Misturman:
1.5% is nothing, beer or bull market... Crypto is gambling, spot or future

At least we both agree on the 1.5% debate.
Thanks for seconding that fact!

On the issue of crypto trading being gambling, I beg to differ!
It's also like saying that trading on stock markets is gambling.

To me, gambling is anything one doesn't have the power to manage or control the risks, when an event doesn't go according to plan.

For the mere fact one can control and manage risks in crypto trading, takes away that element of gambling.

For instance in football betting, when an event goes wrong, you lose your total stake.
In trading, when prices fall below your entry point, you either cut your losses, or wait for a reversal in price, depending on signals from the indicators.

On futures, for the mere fact that they are leveraged and borrowed funds, increases the risks and adds more element of gambling to it, and again; liquidation has ruined so many futures traders.
This is unlike in spot trading.

The main reason people flock to futures is because of the lure to double or tripple their profits, with small margin requirements...that right there, is the element of gambling.

Chikacha:
There's only one thing you're doing and the fact that you think it's right or the fact that none of your followers see or points it out to you makes you a scammer. At least until you figure it out and stop it. Until then, your competitor remains the man in your mirror, we go dey skip your tweet dey count down like the bear market wey we dey so. May God deliver those he loves from you and whatsoever you are here to execute.

Personally, I have seen camelions in the North of Nigeria change to different colors, and I love them!! (This is not a joke or malice) Deflevor hurt a lot of people here WITHOUT EVEN FEELING BAD ABOUT IT. You barely emerged after he disappeared.
Don't be carried away, I WOULD LOVE to see you prove yourself so we go back to being safe here. You just keep missing the point and I don't know why.
I am very very Patient and neural, I am that last voter who will not take money because he wants change. My brother dey do dey go, any day we see change, na the same 12 fingers I use type this I go use re-type am.

In life, I have learned one thing. It will always be difficult to reap where another man has sewn. Always.

Your mind is already made up about me, together with like-minded people like you on here, but then again...I owe no one any explanations.

My happiness is that a few people on here are taking positives from the little I've shared on here, and that is the difference between naysayers/cynics who will never see any good in someone's efforts, and the idealists, who extract vital info.


While some are busy asking for trade history, others are working with what they already see me preach, and are improving on their trades, and most importantly, understanding how the trading game works!


If at the end of the day, I manage to impart my knowledge on just one person out of the numerous cynics, I will be happy that someone benefited from my trading knowledge and experience.

So my dear, feel free to think of me what you wish.
It makes no difference.
Let those who are serious-minded continue to do so, while the doubters continue to doubt.
It's a choice!

But remember, the theme of my teachings and preaching is that a bear market shouldn't stop an active trader from making money.

Price fluctuations are your friend, only if you know how to take advantage.

Thank you!

Tsfari:
It's all good man, keep doing what you gotta, as long you are getting making dough for yourself.

I may only attack you again, if you ever tell people to come pay you to coach them.
#PEACE

Lol